China Readies for Record-Breaking U.S. Oil Haul in September (1)

Aug. 21, 2020, 3:05 PM

U.S. oil exports to China are set to reach a record next month in a sign that Beijing is stepping up purchases to meet its commitments under a landmark trade deal.

About 19 tankers have signed provisional bookings to load American crude for China in September, according to shipping fixtures, which are subject to change. If all of them set sail, exports could total 37 million barrels, the most on record for a single month.

Under phase one of the agreement between the world’s two biggest economies signed in January, China committed to about $52 billion of U.S. energy purchases ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.